VICI Properties Signs Long-Term Lease Agreement for Canadian Racetrack Assets
VICI Properties has signed a long-term triple-net lease agreement with Highfield to manage the Century Mile and Century Downs racetracks in Alberta, Canada. The lease spans 20 years and begins with an annual base rent of C$10.7 million (approximately $7.5 million). This arrangement is expected to provide stable income for VICI over two decades while allowing Highfield operational control. The agreement reflects a strategic move by VICI Properties, which focuses on real estate investments tied to gaming and entertainment venues. The lease structure ensures predictable cash flows from the Canadian assets without requiring active management of operations. This deal aligns withVICI's business model of leasing properties under long-term agreements.
Tickers: $VICI
Topics: Highfield real estate lease triple-net lease VICI Properties